62% of Gen Xers feel less confident about retirement than baby boomers and millennials due to lower savings rates and debt.

Allianz Life Insurance's 2024 study reveals that 62% of Gen Xers feel less confident about retirement than baby boomers (82%) and millennials (77%), largely due to lower savings rates, daily expenses, credit card debt, and housing debt. Gen Xers trail behind other generations in working with financial professionals and having written financial plans; 35% work with professionals, compared to 46% of millennials and 54% of boomers.

June 16, 2024
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